Activist hedge fund Elliott Management said in an SEC filing it has built up a 6.7% stake in Interpublic in a bid to "engage in a constructive dialog" with IPG's board "regarding steps to maximize shareholder value."
Publicis Groupe suffered a 16.9% plunge in first-half net to $352M on flat revenues of $4.5B due to cancellation or postponement of campaigns and lousy economic conditions in Europe and emerging markets.
Coca-Cola and PepsiCo, despite losing some luster over the healthy foods movement, are the most respected corporate brands, while Delta Airlines and H&R Block top the list of least respected names, according to a study by consultancy CoreBrand.
Mill Road Capital, a Connecticut private equity firm, said it is conducting a "strategic review" of its North American assets that include a majority stake in Vision7, the marketing communications holding company of US units Citizen Relations (PR) and Dare (creative).
WPP revenues rose 1.2 percent to $7.5B during the first five months of 2014, but CEO Martin Sorrell prefers to point to the conglom's 9.8 percent growth -- once currency fluctuations are stripped from the financials.
Interpublic's Jacki Kelley has been named COO/media at Bloomberg Media in charge of business operations for TV, print, radio, mobile, digital and event platforms and creating new marketing opportunities.
The "relations" part of PR, which deals with engagement and public dialog, is the special mark of the profession, said Harris Diamond, recipient of the PRSA Foundation's Paladin Award last night at New York's Bryant Park Grill.
*O'Dwyer's is the only PR firm ranking which requires the top page of the latest corporate income tax return and W-3, establishing particpants as PR firms rather than ad agencies or other types of businesses.